launched a leadership shakeup in its capital markets division as the lender seeks out growth globally.
RBC has been ramping up its focus on growing its global investment banking business. Its capital markets business holds 10 per cent of the market share in Canada, ranking it as the top corporate and investment bank in the country.However, the U.S. – which RBC considers to be its second home market – accounts for 56 per cent of the bank’s global fee pool.
Last year, RBC advised – and acted as joint lead with Bank of America – on jam and jelly maker J.M. Smucker Co.’s US$5.6-billion acquisition of Twinkies maker Hostess Brands Inc. Trevor Gardner, head of Canadian investment banking in Toronto, will oversee global investment banking coverage. Head of Canadian mergers and acquisitions Ben Mandell in Toronto will lead global mergers and acquisitions.
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